FIRST COMMERCIAL INSURANCE COMPANY

Company Information

Company Demographic Information
Name of Company:
FIRST COMMERCIAL INSURANCE COMPANY
Case Number:2009 CA 2668
Guaranty Association:
Florida Insurance Guaranty Association(FIGA) and Florida Workers Compensation Insurance Guaranty Association(FWCIGA)
Type of Coverage:
Property and Casualty
State of Domicile:
Florida
Status of Receivership:
Closed
Important Receivership Dates
Date of Rehabilitation:
July 10, 2009
Date of Liquidation:
August 24, 2009
Policy Cancellation Date:September 23, 2009
Claims Filing Deadline:
August 17, 2010
Objection Deadline:
January 06, 2016
Date of Discharge:
November 30, 2018

Notice of Receivership

Effective on August 24, 2009, First Commercial Insurance Company (“FCIC”) was ordered liquidated by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services was previously appointed as Receiver of both FCIC on July 10, 2009, when the company consented to be placed in receivership for purposes of rehabilitation. Unfortunately, the company’s financial condition prohibited any realistic chance for a successful rehabilitation.

On March 8, 2013, the court approved the First Interim Claims Report and Recommendation on Claims. On March 25, 2013, the Department mailed 31,638 Notices of Determination letters to all known claimants. Due to insufficient assets, only Class 1 and 2 were evaluated. The Amount Recommended Claimant field was blank for Classes 3 through 11. The Objection Filing Deadline was May 6, 2013.

On December 5, 2013, the court approved the Second Interim Claims Report and Recommendation on Claims. The report contained three filed claims. Due to insufficient assets, only Class 1 and 2 were evaluated. The Amount Recommended Claimant field was blank for Classes 3 through 11.

On August 10, 2015, the court approved the Third Interim Claims Report and Recommendation on Claims. On August 13, 2015, the Department mailed 33 Notices of Determination letters to Class 3 Claimants. The Notice advises claimants that there is not sufficient funds for a distribution payment. The Objection Filing Deadline was September 28, 2015.

Distribution
​On May 4th, 2018, Distribution checks were mailed to claimants in class 1 and class 2. Class 2 claimants were Court Approved to receive a 7.52% pro-rata payment on their evaluated claim. Claimants are encouraged to cash these checks as soon as possible. A Notice is included with each check providing instructions. This is anticipated to be the only distribution. Funds were insufficient to pay any additional claimants classes.

Estate Closed

​The Department was discharged of all of its responsibilities in administering this estate and the estate was closed at 11:59 PM on November 30, 2018.

Unclaimed Property From Previous Distributions

​Pursuant to the Distribution Orders, all uncashed distribution checks were sent to the Department of Financial Services, Division of Unclaimed Property. The Division of Unclaimed Property may be reached at:

fltreasurehunt.gov
Phone: (850) 410-9253
Toll Free: 1-888-258-2253 (Florida only)
Florida Department of Financial Services
Division of Unclaimed Property
P.O. Box 1910
Tallahassee, FL 32301-1910

The following documents are provided as Adobe Acrobat PDF files and are best viewed using the free Adobe Acrobat reader software.

Court Documents

DateTitleSize
11/16/2018Order Approving Department's Discharge Accounting Statement, Directing Final Discharge, and Authorizing Destruction of Obsolete Records544K
11/16/2018Department's Motion for Order Approving Discharge Accounting Statement, Directing Final Discharge, and Authorizing Destruction of Obsolete Records2,507K
04/04/2018Order Approving Department's Motion Authorizing Distribution486K
03/29/2018Departments Motion for Approval of Final Claims Report, Claims Distribution Report, Distribution Accounting and Authority to Distribute10,843K
10/02/2017Order Approving Receiver's Fifth Interim Claims Report and Recommendation on Claims1,064K
09/27/2017Receiver's Motion for Approval of Fifth Interim Claims Report and Recommendation on Claims7,724K
11/09/2015Order Approving Receiver's Fourth Interim Claims Report and Recommendation on Claims452K
11/06/2015Receiver's Motion For Approval of Fourth Interim Claims Report and Recommendation on Claims6,196K
08/10/2015Order Approving Receiver's Third Interim Claims Report and Recommendation on Claims517K
08/06/2015Receiver's Motion For Approval of Third Interim Claims Report and Recommendation on Claims6,026K
12/05/2013Order Approving Receiver's Second Interim Claims Report and Recommendation on Claims774K
12/04/2013Receiver's Motion For Approval of Second Interim Claims Report and Recommendation on Claims6,744K
03/08/2013Order Approving Receiver's First Interim Claims Report and Recommendation on Claims632K
03/05/2013Receiver's Motion for Approval of First Interim Claims Report and Recommendation on Claims3,392K
04/28/2010Order Approving Procedure for Deeming Return Premium Claims as Timely Filed1,081K
04/23/2010Motion for Approval of Procedure for Deeming Return Premium Claims as Timely Filed3,109K
08/24/2009Order Appointing the Florida Department of Financial Services as Receiver for Purposes of Liquidation, Injunction and Automatic Stay9,361K
07/10/2009Consent Order Appointing the Florida Department of Financial Services as Receiver for Purposes of Rehabilitation, Injunction, and Notice of Automatic Stay9,043K

 

Notices

DateTitleSize
05/04/2018Distribution Notice - Check Insert 20180504131K
09/10/2009Notice to Policyholder Regarding the Liquidation of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company (English Version)177K
09/10/2009Notice to Policyholder Regarding the Liquidation of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company (Spanish Version)226K
09/04/2009Notice to Agent or Broker Regarding the Policy Transition Plan of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company1,670K
09/03/2009Notice to Commercial Multi-Peril Policyholders regarding Liquidation and Policy Cancellation155K
09/01/2009Notice to Policyholder Regarding the Liquidation of First Commercial Insurance Company and Cancellation of Automobile Service Warranty Policies (English Version)151K
08/31/2009Notice to Agent or Broker Regarding the Liquidation of First Commercial Insurance Company and Cancellation of Automobile Service Warranty Policies (English Version) 187K
08/31/2009Notice to Agent or Broker Regarding the Liquidation of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company (Spanish Version)253K
08/31/2009Notice to Agent or Broker Regarding the Liquidation of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company (English Version)216K
08/31/2009Notice to Agent or Broker Regarding the Liquidation of First Commercial Insurance Company and Cancellation of Automobile Service Warranty Policies (Spanish Version)169K
08/03/2009Notice to Agent or Broker Regarding the Rehabilitation of First Commercial Insurance Company and First Commercial Transportation and Property Insurance Company 182K

 

Other

DateTitleSize
12/28/2015Insolvency Report18,920K